Reviews
This profile includes reviews for Equity Trust Company's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Review Ratings
Average of 78 Customer Reviews
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Review frombonnie s
Date: 08/07/2023
1 starSummary:
Account type: IRA custodial Metals
Administered for 2 years
Yearly fee: $250
Total fees (including yearly, distribution and other fees): $800
Length of time to "cash-out" & close account: FOUR MONTHS
Calls needed: over 5 (each at least 10 minutes on hold)
Details:
A distribution request was made on 4/1/23.
Since this was an "IRA Metals" account, the metals held by Equity trust were supposed to go to the metals dealer for sale.
Instead, they were shipped to my home, where I refused the shipment and it was returned to Equity.
I called Equity to tell them they need to ship to metals dealer and was told that they could only ship to me.
>>> I informed them that that was incorrect and that they needed to go to the metals dealer (who did confirm this).
After MULTIPLE calls to Equity, finally it was determined that that I needed to complete a different form and the dealer
needed to enter a "sales" form also. BUT Equity did not specify WHICH for was required!!!
Finally, the metals dealer determined which Equity form was needed, which I completed.
Then, having to complete yet another Equity form for distribution of the cash (from the metals) sale, I was under the mistake impression I would get my money... I called Equity and was told there was an unpaid "closing" fee of $250.
I informed the rep that I had already paid the fee and after they checked, they agreed the fee was paid and that I would not be charged.
THE NEXT DAY, a message was left which said their were fees due and after calling them AGAIN, they determined, again, that it WAS paid.
THE DAY AFTER, I received a $300 bill in the regular mail for a DIFFERENT charge which, apparently, they had just realized was due.
I called AGAIN and had to make an appointment to speak with a supervisor.
After this last call, finally my money was released.
This is definitely the WORST company I have ever had to displeasure of using...
Find another company.Review fromMichael L
Date: 07/19/2023
1 starMichael L
Date: 07/19/2023
I have worked with Equity Trust for many years with various investments. Initially, I was very happy with their service. In my experience, their service has progressively gotten slower. At one point in the early days of my experience with ETC, their sales rep talked me into paying extra for their “Gold” service stating it was much faster and gives gold members priority. The reality I experienced was that their gold service was slower than their regular service. I cancelled gold in less than a year. I have had such funding tardiness from ETC that I had to move the majority of my holdings to another self directed intermediary. I still have some private equity holdings with ETC and they cause me nothing but frustration. One of the companies I invested in sold at the beginning of the year 2023. ETC could not find my incoming wired funds for quite a while. This month the same thing happened again. ETC received a wire for some of my funds on July 11th. It is now July 18th and after over a week of me calling, waiting on hold for hours, along with several emails from me, they have yet to assign someone to track my wire and get it posted to my account. If you need quick service from your intermediary, I recommend using another company.
Equity Trust Company
Date: 08/14/2023
We appreciate all reviews, and appreciate you giving us the chance to improve by providing us with this feedback. We regret to hear that your experience with us was not a more positive one.Review fromLORRAINE B
Date: 07/13/2023
5 starsLORRAINE B
Date: 07/13/2023
I needed an investment approval and it was seamless. ETC reviewed my docs and wired the money right away.Equity Trust Company
Date: 07/18/2023
We appreciate you taking the time to tell us about your positive experience! Your feedback is important to us - thank you for taking the time to leave us a positive review!Review fromDannie T
Date: 06/29/2023
1 starDannie T
Date: 06/29/2023
If you are looking for a company to handle your precious metal IRA I would differently not use Equity Institutional. This companies customer service on shipping precious metal is totally unacceptable. I sent a distribution form in to sell some of my wife's precious metals in her IRA to Kitco. I submitted the request to Equity on June 12th and here it is 17 days later with no notice of shipping the metals. I have sent several emails and made several phone calls to try and find out why it is taking so long to process my transaction. All they could tell me is they would bet back to me with an answer which I never got. Because of this long delay I have not had the opportunity to invest the money in a better returning financial investment. I don't know how much I have lost in income because of this delay. Once this transaction is complete I am going to close my account and do my financial business elsewhere. This is differently not a 4 star company. I would rate them a one star company and that would be generous.Equity Trust Company
Date: 08/03/2023
Hi Dannie, we appreciate all reviews, and appreciate you giving us the chance to improve by providing us with this feedback. We regret to hear that your experience with us was not a more positive one.Review fromChris C
Date: 06/25/2023
5 starsChris C
Date: 06/25/2023
The staff are very helpful and are quick to respond to questionsEquity Trust Company
Date: 06/27/2023
Thank you for taking the time to leave a positive review! We are happy to hear you received helpful and efficient service.Review fromBrenda
Date: 06/13/2023
1 starBrenda
Date: 06/13/2023
This company is to be avoided. There is no customer service.Equity Trust Company
Date: 07/13/2023
Hi ******* we regret to hear that you had a negative experience with us, but would appreciate the chance to turn your experience around. We would like to have a better understanding about your experience. Please reach out to us at ***** ******** at your earliest convenience and we will do our best to resolve this with you.Brenda
Date: 07/15/2023
I had what I consider to be unreasonable difficulty in obtaining help from the staff of Equity Trust. The first contact assigned to me seemed to drop me and did not respond to me. I got another contact and we completed one transfer and I called that contact with questions about how to proceed. Again, no response. called the contact several times and received no response. I was on hold for at least two hours on two occasions waiting for someone to respond. I gave up and requested a call back as instructed. I did this twice and did not receive a call back either time. Finally I went on line and scheduled another transaction which finally got someone's attention. At one point I was able to talk to Chelsea Dietes and she promised someone would touch base with me. No one ever did.
The project is located in Ghana and because of the delay, the project is costing us an additional $25K to complete because of the increase in Ghanaian commodity taxes (building supplies). I eventually took a distribution from my IRA so we could continue the work. Now I have to pay taxes on that distribution which would not have happened had I gotten the help I needed.
We had a very tight budget. If we had gotten the attention we needed we probably would have been able to purchase the supplies before the Ghanaian government initiated the increase in taxes. That occurred entirely because Equity Trust failed to contact me. That took weeks, not days.
Once this is done, I don't think I will be conducting any further business with Equity Trust unless they take measures to accommodate the loss we have experienced. I talked to Kristi ******* and she finally took care of our problem with getting MY money out to work on the project. Now we are having difficulties with the bank in Ghana in obtaining the dollars needed to continue the work. I assume this is because of the bait and switch tactics of the US government which could also have been avoided if we had been given the attention we requested.Review fromGlenn S
Date: 06/09/2023
5 starsGlenn S
Date: 06/09/2023
I truly believe Equity Trust is the best self directed IRA company out there!
Their website is fantastic and it makes it super easy to do business!Equity Trust Company
Date: 06/27/2023
Hi Glenn, we appreciate your feedback and are happy to hear about your positive experience!Review fromMichael S
Date: 06/08/2023
5 starsMichael S
Date: 06/08/2023
Every time I’ve called or needed paperwork from Equity Trust, I’ve been greeted by employees who have always made me feel like I was their #1 concern. Their service has been friendly, knowledgeable, courteous & professional. I’m 100% satisfiedEquity Trust Company
Date: 06/27/2023
Hi Michael, thank you for leaving positive feedback. We are happy to hear our teams provided a helpful experience!Review fromJay L
Date: 05/26/2023
5 starsJay L
Date: 05/26/2023
I interviewed many self directed IRA companies and landed with Equity Trust for a few reasons. I was referred by many colleagues and friends. But I also loved their online portal that makes submissions so easy at any time of the day. Also, their follow through was great on sign up and equally as good during the course of investing, funding, etc. We have significant sums there and look forward to their continued support.Equity Trust Company
Date: 06/27/2023
Thank you for taking the time to leave a positive review! We appreciate your feedback.Review fromScott B
Date: 05/18/2023
5 starsScott B
Date: 05/18/2023
I am absolutely thrilled with the service provided by Equity Trust Company as a custodian for my precious metals. Their expertise, commitment to security, and transparency have truly exceeded my expectations. From the moment I entrusted them with my investments, I felt confident that my precious metals were in safe hands. Their state-of-the-art storage facilities and comprehensive account statements have provided me with peace of mind and a sense of control over my portfolio. I highly recommend Equity Trust Company to anyone looking for a reliable custodian for their precious metals.Equity Trust Company
Date: 06/27/2023
Scott, thank you for taking the time to leave a positive review. We are happy you have found our teams friendly and helpful!
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